Qualcomm concedes $11 million to former employees in suit

Qualcomm Inc. has agreed to pay $11 million, minus attorney's fees, to 800 of its former employees under the terms of a settlement arising from a class action lawsuit.

The litigation stemmed from the sale of assets associated with Qualcomm's infrastructure division that the company sold to Ericsson. A final settlement approval hearing is scheduled forApril.

The settlement sum was not insignificant as far as class action settlements of this nature go, said John Halebian, an attorney from the law firm Wechlser Harwood Halebian & Feffer, New York. "While I haven't read the briefs, it is certainly not an insignificant settlement on a per-person basis," Halebien said. "The average pay-out was almost $14,000 per person."